Comments on Paul Krugman: Playing Taxes Hold ’EmTypePad2012-12-21T07:21:41ZMark Thomahttp://economistsview.typepad.com/economistsview/tag:typepad.com,2003:http://economistsview.typepad.com/economistsview/2012/12/paul-krugman-playing-taxes-hold-em/comments/atom.xml/Joe commented on 'Paul Krugman: Playing Taxes Hold ’Em'tag:typepad.com,2003:6a00d83451b33869e2017d3f1ec12c970c2012-12-24T00:37:38Z2012-12-24T00:37:38ZJoeGive us back the good old days when we would sort out who owes what with a big war, WW2...<p>Give us back the good old days when we would sort out who owes what with a big war, WW2 really showed us how to do it, Bretton-Woods, ah...<br />
Lets look at the wider picture. Yes there is an even bigger one. Everyone has nukes, so I guess mass organised violence is out of the question. Regional wars are only heating up the problem. There is just no room for &#39;crazies&#39; any more, in either party.<br />
Debt &#39;cliff&#39; and all the talk is a smokescreen for a wider problem. Even if you raise the debt, all you can do is either recycle petro-dollars or get China to buy it. Yen carry trade? The country is just too big now for any single source to handle. Ok you got to pay for the poor (SS) but unless you take a reduction in living standards then this talk is all pointless. Who is buying US debt? The Federal Reserve! Buying treasuries at low interest that it knows it will make massive profit from in the future. Even then in a worst case scenario, the US defaults, the dollar is devalued, guess what? Exports rise and jobs come flooding back... Time for a serious effort at the WTO to reach some kind of global settlement and reset.</p>Lafayette commented on 'Paul Krugman: Playing Taxes Hold ’Em'tag:typepad.com,2003:6a00d83451b33869e2017c34e668ae970b2012-12-22T21:32:30Z2012-12-22T21:32:30ZLafayetteWere politics simply a poker gamem then yes perhaps the above gambit might work. There is no fiscal cliff. So...<p>Were politics simply a poker gamem then yes perhaps the above gambit might work. </p>
<p>There is no fiscal cliff. So sorry to disappoint. It is a concoction of puerile fantasy for the gullible, in order to put urgency into austerity where none exist. Just another excercise oin &quot;smoke &#39;n mirrors politics&quot; as the Rabid Right employ with alacrity when devoid of any rhyme or reason.</p>
<p>Obama&#39;s hand could be just a pair of deuces and he&#39;d still win this game.<br />
<br />
And he knows it. Watching the moth flittering about an intense light, he is just waiting to see the smoke. Then the Dems walk in to pick up the pieces in 2014 mid-terms.</p>Lafayette commented on 'Paul Krugman: Playing Taxes Hold ’Em'tag:typepad.com,2003:6a00d83451b33869e2017d3f15242a970c2012-12-22T21:11:28Z2012-12-22T21:11:28ZLafayette{but didn't let unfettered capitalism produce dangerous concentrations of wealth and power either.} Because the tax-code was much more progressive...<p>{but didn&#39;t let unfettered capitalism produce dangerous concentrations of wealth and power either.}</p>
<p>Because the tax-code was much more progressive and it was far more difficult to accumulate capital thus giving plutocrats the ability to manipulate politics in a country fixating on wealth ... as if riches were the ultimate culmination of mankind&#39;s intelligence and effort.</p>
<p>How do we get back to the basics of utilitarian governance whereby the onus is upon the objective to obtain the most good for the most people? Must we continue ad vitam aeternam the mindless quest for riches as symbolic of individual self-achievement?</p>
<p>These unanswered questions, I submit, were the same as those that excited intllectual curiosity during the Enlightenment. Marx&#39;s response was not the right answer, alas.</p>
<p>And yet, we remain the blind leading the blind to find the right answer.</p>anne commented on 'Paul Krugman: Playing Taxes Hold ’Em'tag:typepad.com,2003:6a00d83451b33869e2017d3f14a6ff970c2012-12-22T20:01:22Z2012-12-22T20:01:22ZanneFrom the time of the Plaza Accord in 1985 till now the Yen has appreciated 64.7% against the dollar.<p>From the time of the Plaza Accord in 1985 till now the Yen has appreciated 64.7% against the dollar.</p>anne commented on 'Paul Krugman: Playing Taxes Hold ’Em'tag:typepad.com,2003:6a00d83451b33869e2017c34e5c47d970b2012-12-22T19:59:42Z2012-12-22T19:59:42Zannehttp://www.measuringworth.org/datasets/exchangeglobal/result.php?year_source=1960&year_result=2011&countryE%5B%5D=Japan Price of an American Dollar in Japanese Yen, 1980-2012 Japanese Yen 1980 ( 227) 1981 ( 221) Reagan 1982...<p><a href="http://www.measuringworth.org/datasets/exchangeglobal/result.php?year_source=1960&year_result=2011&countryE%5B%5D=Japan" rel="nofollow">http://www.measuringworth.org/datasets/exchangeglobal/result.php?year_source=1960&amp;year_result=2011&amp;countryE%5B%5D=Japan</a></p>
<p>Price of an American Dollar in Japanese Yen, 1980-2012</p>
<p>Japanese Yen</p>
<p>1980 ( 227)<br />
1981 ( 221) Reagan<br />
1982 ( 249) (High)<br />
1983 ( 238)<br />
1984 ( 237)</p>
<p>1985 ( 238) Plaza Accord<br />
1986 ( 168)<br />
1987 ( 145)<br />
1988 ( 128)<br />
1989 ( 138) Bush</p>
<p>1990 ( 145)<br />
1991 ( 135)<br />
1992 ( 127)<br />
1993 ( 111) Clinton<br />
1994 ( 102)</p>
<p>1995 ( 94)<br />
1996 ( 109)<br />
1997 ( 121)<br />
1998 ( 131)<br />
1999 ( 114)</p>
<p>2000 ( 108)<br />
2001 ( 122) Bush<br />
2002 ( 125)<br />
2003 ( 116)<br />
2004 ( 108)</p>
<p>2005 ( 110)<br />
2006 ( 116)<br />
2007 ( 118)<br />
2008 ( 103)<br />
2009 ( 94) Obama</p>
<p>2010 ( 88)<br />
2011 ( 80) (Low)</p>
<p>December 20</p>
<p>2012 ( 84)</p>anne commented on 'Paul Krugman: Playing Taxes Hold ’Em'tag:typepad.com,2003:6a00d83451b33869e2017c34e5c088970b2012-12-22T19:57:26Z2012-12-22T19:57:26ZanneIn a low growth economy, the only way to reduce domestic demand, and hence inflation, and guarantee the long term...<p>In a low growth economy, the only way to reduce domestic demand, and hence inflation, and guarantee the long term continuation of the stated strong yen policy was a massive program encouraging domestic purchase of bonds.</p>
<p>This was the same policy Roosevelt used during WW2 to limit domestic demand and prevent high employment from siphoning real resources (as opposed to negotiable paper) from the war effort....</p>
<p>[ Ah, I understand and realize finally that Japanese policy makers could easily have thought in just such terms. Nicely done. ]</p>Mark A. Sadowski commented on 'Paul Krugman: Playing Taxes Hold ’Em'tag:typepad.com,2003:6a00d83451b33869e2017c34e4d8d5970b2012-12-22T17:37:24Z2012-12-22T17:37:24ZMark A. Sadowski"To toot my own horn loudly..." http://3.bp.blogspot.com/-QTx5n33LJ38/UCbXCXJvUxI/AAAAAAAAC4w/oVWfxaUkpD4/s1600/montypythonhg0450.jpg Yes, we've noticed.<p>&quot;To toot my own horn loudly...&quot;</p>
<p><a href="http://3.bp.blogspot.com/-QTx5n33LJ38/UCbXCXJvUxI/AAAAAAAAC4w/oVWfxaUkpD4/s1600/montypythonhg0450.jpg" rel="nofollow">http://3.bp.blogspot.com/-QTx5n33LJ38/UCbXCXJvUxI/AAAAAAAAC4w/oVWfxaUkpD4/s1600/montypythonhg0450.jpg</a></p>
<p>Yes, we&#39;ve noticed.</p>
<p> </p>Mark A. Sadowski commented on 'Paul Krugman: Playing Taxes Hold ’Em'tag:typepad.com,2003:6a00d83451b33869e2017c34e4cf12970b2012-12-22T17:31:40Z2012-12-22T17:31:40ZMark A. Sadowskiamanasleep clearly says "high employment" which is the only thing that makes sense given the context.<p>amanasleep clearly says &quot;high employment&quot; which is the only thing that makes sense given the context.</p>roger gathman commented on 'Paul Krugman: Playing Taxes Hold ’Em'tag:typepad.com,2003:6a00d83451b33869e2017c34e3892c970b2012-12-22T14:23:51Z2012-12-22T14:23:51Zroger gathmanhttp://www.limitedinc.blogspot.comObama is the worst, god knows. I voted for him nonetheless. However, as a second term pres, he is not...<p>Obama is the worst, god knows. I voted for him nonetheless. However, as a second term pres, he is not the guy who the dems have to align with in 2016. Second term presidents always lose that power. And the dem senators did quite well. <br />
So I&#39;d suggest that the Boehner-Obama deal to whack the middle class with the uber idiotic &#39;reform&#39; of Medicare and S.S. and raise taxes a teenie bit on a class who will soon find a way around those tax increases is going to be blocked in the Senate. Maybe I am wrong, and the Dems feel like going down, again, in 2014. But if the political interest of the Dems is stronger than their self-interest in inserting themselves in the plutocratic gravy (always a close call), they will do the right thing, bang come down the taxes, bang go the cuts, and then ... the issues will reverse, and the GOP will need the Dems to get what they want. So hopefully, we will go over the fiscal cliff, the overfed, oversuited pundits and D.C. go to men will, once again, show they know nothing and are well paid for it, and we can start some serious talking about who has what in this country. <br />
I don&#39;t expect some liberal revolution. I&#39;m ardently goo goo, but the goo goo agenda is way too ultra for this situation. But I like the idea of a stag within the managed stag, a stag that finally gets in the throats of the plutocrats. Let em eat it, slowly. This Xmas, I&#39;m in a Titus Andronicus mood, and want a similar feast as the one that ends that play to be served up to the rich and powerful in D.C. of both parties. </p>Min commented on 'Paul Krugman: Playing Taxes Hold ’Em'tag:typepad.com,2003:6a00d83451b33869e2017c34e02d82970b2012-12-22T07:08:46Z2012-12-22T07:08:46ZMinWell, as I understand it, the best non-partisan forecasts for the first quarter of 2013, if the fiscal cliff legislation...<p>Well, as I understand it, the best non-partisan forecasts for the first quarter of 2013, if the fiscal cliff legislation goes into effect, are for significant negative growth.</p>Charles Peterson commented on 'Paul Krugman: Playing Taxes Hold ’Em'tag:typepad.com,2003:6a00d83451b33869e2017ee682d84d970d2012-12-22T05:11:04Z2012-12-22T05:11:04ZCharles Petersonhttp://verydeepleft.blogspot.comDoes this continuing to have high Japanese Yen have anything to do with Carry Trade or ways for Japanese banks...<p>Does this continuing to have high Japanese Yen have anything to do with Carry Trade or ways for Japanese banks to make higher profits from international speculation?</p>
<p>[sorry about accidental pre-post below]</p>Charles Peterson commented on 'Paul Krugman: Playing Taxes Hold ’Em'tag:typepad.com,2003:6a00d83451b33869e2017d3f0e4836970c2012-12-22T05:09:07Z2012-12-22T05:09:07ZCharles Petersonhttp://verydeepleft.blogspot.comDoes this continuing to have high Japanese Yen have anything to do with the Carry Trade or ways for Japanese...<p>Does this continuing to have high Japanese Yen have anything to do with the Carry Trade or ways for Japanese Banks to profit from international speculation?</p>Charles Peterson commented on 'Paul Krugman: Playing Taxes Hold ’Em'tag:typepad.com,2003:6a00d83451b33869e2017ee682d12d970d2012-12-22T05:07:10Z2012-12-22T05:07:10ZCharles Petersonhttp://verydeepleft.blogspot.comThere was high unemployment during WWII ???<p>There was high unemployment during WWII ???</p>amanasleep commented on 'Paul Krugman: Playing Taxes Hold ’Em'tag:typepad.com,2003:6a00d83451b33869e2017ee681b464970d2012-12-22T02:23:09Z2012-12-22T02:23:09ZamanasleepIn a low growth economy, the only way to reduce domestic demand, and hence inflation, and guarantee the long term...<p>In a low growth economy, the only way to reduce domestic demand, and hence inflation, and guarantee the long term continuation of the stated strong yen policy was a massive program encouraging domestic purchase of bonds.</p>
<p>This was the same policy Roosevelt used during WW2 to limit domestic demand and prevent high employment from siphoning real resources (as opposed to negotiable paper) from the war effort.</p>
<p>All of this was perfectly understood at the time. Why it has been forgotten is anybody&#39;s guess.</p>anne commented on 'Paul Krugman: Playing Taxes Hold ’Em'tag:typepad.com,2003:6a00d83451b33869e2017d3f0b737c970c2012-12-21T21:20:46Z2012-12-21T21:20:46ZanneJapan struck a deal with the banks: they could continue as zombies with no official retribution but the country would...<p>Japan struck a deal with the banks: they could continue as zombies with no official retribution but the country would adopt low growth/high social welfare policies, siphoning off excess domestic demand by encouraging a permanently higher level of domestic bond purchases....</p>
<p>[ Interesting summary analysis, but develop this further when possible. Why would and should there be a higher level of domestic bond purchases? ]</p>amanasleep commented on 'Paul Krugman: Playing Taxes Hold ’Em'tag:typepad.com,2003:6a00d83451b33869e2017c34dc75a9970b2012-12-21T21:08:34Z2012-12-21T21:08:34ZamanasleepIn the wake of the 90's crash (and the initial central banking failures) Japan struck a deal with the banks:...<p>In the wake of the 90&#39;s crash (and the initial central banking failures) Japan struck a deal with the banks: they could continue as zombies with no official retribution but the country would adopt low growth/high social welfare policies, siphoning off excess domestic demand by encouraging a permanently higher level of domestic bond purchases. This was the same deal that got the US through WW2.</p>im1dc commented on 'Paul Krugman: Playing Taxes Hold ’Em'tag:typepad.com,2003:6a00d83451b33869e2017d3f0b4fff970c2012-12-21T20:57:45Z2012-12-21T20:57:45Zim1dcTo toot my own horn loudly who was it that told Economistview that Boehner might not get his Plan B...<p> To toot my own horn loudly who was it that told Economistview that Boehner might not get his Plan B passed by his Republicans?</p>
<p>Krugman? No.</p>
<p>Mark Sadowski? No.</p>
<p>Mark Thoma? No.</p>
<p>anne? No.</p>
<p>It was ONLY ME, im1dc. (Pls picture me doing an obnoxious victory dance with hands high in the air)</p>
<p>Politics = Economics</p>
<p>Economics = Politics<br />
</p>Devin commented on 'Paul Krugman: Playing Taxes Hold ’Em'tag:typepad.com,2003:6a00d83451b33869e2017c34dc4206970b2012-12-21T20:37:39Z2012-12-21T20:37:39ZDevinhttp://freemarketsgoodbeer.blogspot.comThat's true...our system during the Cold War was a significantly more balanced, pragmatic approach that certainly didn't aim for perfect...<p>That&#39;s true...our system during the Cold War was a significantly more balanced, pragmatic approach that certainly didn&#39;t aim for perfect equality, but didn&#39;t let unfettered capitalism produce dangerous concentrations of wealth and power either.</p>
<p>Now many of us (including a disturbing number of those in leadership) have abandoned pragmatism in pursuit of ideological purity. While the ideology may be different, in many respects the market fundamentalists are much like the Soviets.</p>Dean Blazer commented on 'Paul Krugman: Playing Taxes Hold ’Em'tag:typepad.com,2003:6a00d83451b33869e2017ee67f9bd2970d2012-12-21T20:18:29Z2012-12-21T20:18:29ZDean BlazerOur system is better. The problem is that we're going farther and farther away from our system.<p>Our system is better. The problem is that we&#39;re going farther and farther away from our system. </p>GeorgeK commented on 'Paul Krugman: Playing Taxes Hold ’Em'tag:typepad.com,2003:6a00d83451b33869e2017d3f0aedfb970c2012-12-21T19:56:59Z2012-12-21T19:56:59ZGeorgeKGood news for Mr. Boehner, the next Speaker will be from the T-party wing of the Republican party, whomever it...<p>Good news for Mr. Boehner, the next Speaker will be from the T-party wing of the Republican party, whomever it will be will go down as the worst Speaker-of-the-House, saving Mr. Boehner from that ignominious mantle. </p>John Cummings commented on 'Paul Krugman: Playing Taxes Hold ’Em'tag:typepad.com,2003:6a00d83451b33869e2017d3f0ab572970c2012-12-21T19:23:50Z2012-12-21T19:23:50ZJohn CummingsWhy are we headed for another recession based on feeble tax increases(that aren't that huge historically) and decade long drawn...<p>Why are we headed for another recession based on feeble tax increases(that aren&#39;t that huge historically) and decade long drawn out spending cuts when 1000 billions of new spending will be printed up?</p>
<p>I think people just don&#39;t quite get it. New spending is coming out all the time. </p>ScentOfViolets commented on 'Paul Krugman: Playing Taxes Hold ’Em'tag:typepad.com,2003:6a00d83451b33869e2017ee67eea59970d2012-12-21T18:37:47Z2012-12-21T18:37:47ZScentOfVioletsWell, yes and no. Yes, the Republican party as we know it will at some point no longer be a...<p>Well, yes and no. Yes, the Republican party as we know it will at some point no longer be a major player. And no: There&#39;s plenty of room for Republicans in the Democratic party; it&#39;s also quite possible that the liberal and conservative elements will pull apart and eventually fission, creating two new parties: the, er, Democrats and the Republicans.<br />
</p>Min commented on 'Paul Krugman: Playing Taxes Hold ’Em'tag:typepad.com,2003:6a00d83451b33869e2017d3f0a4b0b970c2012-12-21T18:30:03Z2012-12-21T18:30:03ZMinYou'd be surprised how many senior citizens are commies. The hippies are in the old folks' homes, toking medicinal weed....<p>You&#39;d be surprised how many senior citizens are commies. The hippies are in the old folks&#39; homes, toking medicinal weed. ;)</p>Min commented on 'Paul Krugman: Playing Taxes Hold ’Em'tag:typepad.com,2003:6a00d83451b33869e2017d3f0a45b2970c2012-12-21T18:27:25Z2012-12-21T18:27:25ZMin"And when he returns to the table, he needs to say 'all in.' . . . "Raise taxes. Leave SS...<p>&quot;And when he returns to the table, he needs to say &#39;all in.&#39; . . .</p>
<p>&quot;Raise taxes. Leave SS and Medicare unmolested. Then push for jobs building a better America.&quot;</p>
<p>But that is not Obama&#39;s all in position. His all in position is somewhere between his offer and Boehner&#39;s Plan B. Double dip recession, anyone?</p>Min commented on 'Paul Krugman: Playing Taxes Hold ’Em'tag:typepad.com,2003:6a00d83451b33869e2017d3f0a3db7970c2012-12-21T18:23:05Z2012-12-21T18:23:05ZMinThe ultra-conservative Republicans will probably do OK if their obstruction results in a bad bargain between the Dems and the...<p>The ultra-conservative Republicans will probably do OK if their obstruction results in a bad bargain between the Dems and the more centrist Reps. Then when things get bad, they can say, &quot;We told you so. We didn&#39;t vote for taxes. We didn&#39;t vote against Social Security.&quot;</p>Min commented on 'Paul Krugman: Playing Taxes Hold ’Em'tag:typepad.com,2003:6a00d83451b33869e2017d3f0a3658970c2012-12-21T18:19:12Z2012-12-21T18:19:12ZMinNothing works as advertised.<p>Nothing works as advertised.</p>Min commented on 'Paul Krugman: Playing Taxes Hold ’Em'tag:typepad.com,2003:6a00d83451b33869e2017c34db45ac970b2012-12-21T18:17:41Z2012-12-21T18:17:41ZMin"Are we about to see another round of the president negotiating with himself, snatching policy and political defeat from the...<p>&quot;Are we about to see another round of the president negotiating with himself, snatching policy and political defeat from the jaws of victory?&quot;</p>
<p>Do not be deceived. Obama is not negotiating with himself. He is making an offer that he sees as victory. </p>
<p>Yes, the Reps saved Obama in 2011, as a bargain would probably have precipitated a recession that they could blame on Obama, leading to his defeat. Obama cannot be defeated anymore. It looks like we are headed for another recession, regardless of whether there is a bargain.</p>Darryl FKA Ron commented on 'Paul Krugman: Playing Taxes Hold ’Em'tag:typepad.com,2003:6a00d83451b33869e2017d3f0a1bf9970c2012-12-21T18:06:15Z2012-12-21T18:06:15ZDarryl FKA RonI am pretty sure of myself here on understanding the American people on economic issues. I had been talking to...<p>I am pretty sure of myself here on understanding the American people on economic issues. I had been talking to plenty of them about the perils of financialization for decades before the term itself was known to me (had not heard the term neoliberal or globalization back then either). So, I was in great position learn what people really thought. Mostly they thought that I was crazy, delusional or a commie, except for the liberals that thought I must be a reactionary. So, for the first twenty years or so I was just pretty much the butt of jokes by all political persuasions. Then the next twenty years some of the less economically successful liberals (mostly melanin rich individuals though) started to think that maybe I WAS on to something. Now since 2008, after it is all to late, then everyone that knows me thinks that I am a bloody genius that can see things happening or emerging that no ordinary mortal possible could understand, which is equally useless. I cannot possibly accomplish anything useful by myself, and my fellow Americans really prefer to remain in the dark where they can feel no pangs of guilt along with no degree of responsibility or accountability. It is always someone elses fault. It is either the other political party or it is politicians in general. Voters have no responsibility whatsoever to educate themselves on issues enough to have an informed responsible discussion. The role of citizenship is about as responsible as picking your favorite team in the Super Bowl.</p>
<p>At least part of this shirking of civic duty is because most grown-up people in America today had spent most of their life &quot;fat&quot; (figuratively, if not litereally), dumb, and happy until suddenly they became panicked that the happy part might not be very secure. Even if you were lower middle class and well fed with you slippers and a big screen TV, if that humble life was relatively secure then it was not all that hard to be happy. Maslowe&#39;s hierarchy of needs are bigger on the lower tiers. Gimme shelter and enough to eat and I am better off than 99% of people in Ethiopia and Somalia.</p>save_the_rustbelt commented on 'Paul Krugman: Playing Taxes Hold ’Em'tag:typepad.com,2003:6a00d83451b33869e2017d3f0a0219970c2012-12-21T17:54:32Z2012-12-21T17:54:32Zsave_the_rustbeltMerry Christmas, Happy New Year!<p>Merry Christmas, Happy New Year!</p>anne commented on 'Paul Krugman: Playing Taxes Hold ’Em'tag:typepad.com,2003:6a00d83451b33869e2017ee67e7875970d2012-12-21T17:41:59Z2012-12-21T17:41:59ZanneWe need to pay attention since the economy is important as an influence, and understanding how ordinary Japanese have fared...<p>We need to pay attention since the economy is important as an influence, and understanding how ordinary Japanese have fared through what seems to be a continual malaise since 1990 is important. My sense, as that of Japanese families with whom I am friendly, is always that that ordinary Japanese households have fared remarkably well.</p>
<p>I do not however understand.</p>Darryl FKA Ron commented on 'Paul Krugman: Playing Taxes Hold ’Em'tag:typepad.com,2003:6a00d83451b33869e2017d3f09d57d970c2012-12-21T17:31:46Z2012-12-21T17:31:46ZDarryl FKA RonYou bet. If anything Ryan probably won Romney more votes, not necessarily from Obaman, than he lost for Romney. Romney...<p>You bet. If anything Ryan probably won Romney more votes, not necessarily from Obaman, than he lost for Romney. Romney suffered a really large enthusiasm gap among even life long Republicans in central Virginia from personal experience and all around the country as well from what I had read.</p>
<p>My read was that the really serious Republicans knew that they had little or no chance to run the table with both houses of Congress and the POTUS and that most likely the 2012 election would move the lines hardly at all. I started saying this in 2011 along with calling the Republican primary a scratched and dented close-out sale on used Republicans. Americans are pretty nervous about the Federal government AND the two party system right now. Most of them thought that nothing like the 2008 financial crisis could ever happen, because they had not even been born in 1929. So, they are clinging to divided government along with their guns and bibles. Maybe they will let go of the high capacity clips for their guns and maybe not. Divided government will most likely be a feature for the remainder of my days.</p>Peter K. commented on 'Paul Krugman: Playing Taxes Hold ’Em'tag:typepad.com,2003:6a00d83451b33869e2017d3f09c80e970c2012-12-21T17:24:01Z2012-12-21T17:24:01ZPeter K.http://www.negativeoutlook.blogspot.comI agree with you. I'll believe it when I see it. And yet still: http://www.nytimes.com/2012/12/21/business/in-japan-a-test-of-inflation-targets.html http://www.nytimes.com/2012/12/21/business/global/bank-of-japan-increases-economic-stimulus.html "Mr. Shirakawa’s days at...<p>I agree with you. I&#39;ll believe it when I see it. And yet still:</p>
<p><a href="http://www.nytimes.com/2012/12/21/business/in-japan-a-test-of-inflation-targets.html" rel="nofollow">http://www.nytimes.com/2012/12/21/business/in-japan-a-test-of-inflation-targets.html</a></p>
<p><a href="http://www.nytimes.com/2012/12/21/business/global/bank-of-japan-increases-economic-stimulus.html" rel="nofollow">http://www.nytimes.com/2012/12/21/business/global/bank-of-japan-increases-economic-stimulus.html</a></p>
<p>&quot;Mr. Shirakawa’s days at the bank may be numbered. Mr. Abe has suggested that he will replace Mr. Shirakawa when his term is up in April with a banker more enthusiastic about monetary easing.&quot;</p>anne commented on 'Paul Krugman: Playing Taxes Hold ’Em'tag:typepad.com,2003:6a00d83451b33869e2017c34dad36e970b2012-12-21T17:20:01Z2012-12-21T17:20:01ZanneAs for the Japanese economic system, since 1985 and the Plaza Accord in which Japan agreed to dramatically increase the...<p>As for the Japanese economic system, since 1985 and the Plaza Accord in which Japan agreed to dramatically increase the value of the Yen against the dollar and did just that, other than keeping to a strong Yen policy from 1985 till now I have not properly understood Japanese economic policy even though trying to do so. What I do know is that policy intentions announced by various governments are just never implemented as announced.</p>
<p>I have found no explanation.</p>Dean Blazer commented on 'Paul Krugman: Playing Taxes Hold ’Em'tag:typepad.com,2003:6a00d83451b33869e2017c34da9b96970b2012-12-21T16:43:11Z2012-12-21T16:43:11ZDean Blazer"Since then, however, viewers seem to have lost interest [in poker]." No they haven't ... The poker boom was at...<p>&quot;Since then, however, viewers seem to have lost interest [in poker].&quot;</p>
<p>No they haven&#39;t ... The poker boom was at an all time high before the very same gov&#39;t Krugman praises took away our means to play poker on 4/15/11. Here in the land of the free, if they would regulate, tax and allow U.S. citizens to pursue their passion to play poker, that would be a large revenue steam that we&#39;re missing out on. </p>
<p>Another thing about poker, no good player wants to &quot;quit while they&#39;re ahead&quot; b/c they know the longer they sit at the table, the more money they make. This isn&#39;t blackjack, Krugman. It&#39;s a skill game for money. It&#39;s no different than golf&#39;s mini tours where most of the entry fee goes to the prize pool. If he&#39;s gonna make an analogy, he should at least know something about it. </p>A1 commented on 'Paul Krugman: Playing Taxes Hold ’Em'tag:typepad.com,2003:6a00d83451b33869e2017c34da8f16970b2012-12-21T16:34:27Z2012-12-21T16:34:27ZA1Actually Obama should cut military spending in Republican Districts only, and especially the state of Texas. He should then go...<p>Actually Obama should cut military spending in Republican Districts only, and especially the state of Texas. He should then go to these districts and proclaim how he is cutting government as per the wishes of the particular congressman........</p>anne commented on 'Paul Krugman: Playing Taxes Hold ’Em'tag:typepad.com,2003:6a00d83451b33869e2017ee67e0489970d2012-12-21T16:30:22Z2012-12-21T16:30:22Zanne"Japan is firing up the digital printing presses?" Say what? https://www.google.com/finance?client=ob&q=INDEXNIKKEI:NI225 December 21, 2012 Nikkei Index ( 9,940) December 29,...<p>&quot;Japan is firing up the digital printing presses?&quot;</p>
<p>Say what?</p>
<p><a href="https://www.google.com/finance?client=ob&q=INDEXNIKKEI:NI225" rel="nofollow">https://www.google.com/finance?client=ob&amp;q=INDEXNIKKEI:NI225</a></p>
<p>December 21, 2012</p>
<p>Nikkei Index ( 9,940)</p>
<p>December 29, 1989</p>
<p>Nikkei Index ( 38,916)</p>anne commented on 'Paul Krugman: Playing Taxes Hold ’Em'tag:typepad.com,2003:6a00d83451b33869e2017d3f096f06970c2012-12-21T16:25:33Z2012-12-21T16:25:33Zanne"Japan is firing up the digital printing presses?" The Japanese government has claimed to be firing up this and that...<p>&quot;Japan is firing up the digital printing presses?&quot;</p>
<p>The Japanese government has claimed to be firing up this and that and the other in the way of economic policy since 1990, but there has been no firing up and the ground is littered with investors thinking all these years that the Japanese government could ever be trusted to implement any policy that was proposed.</p>
<p>To my knowledge there has never been a peacetime bear market that has been more ferocious than that of Japan, the point however is that Japanese business leaders have found that no problem with domestic stock prices or with limited growth domestically and are only concerned that the Yen remain strong.</p>Peter K. commented on 'Paul Krugman: Playing Taxes Hold ’Em'tag:typepad.com,2003:6a00d83451b33869e2017d3f0962a6970c2012-12-21T16:15:57Z2012-12-21T16:15:57ZPeter K.http://www.negativeoutlook.blogspot.comWhat Krugman fails to mention is that the economy is in a much better position now than back in 2011....<p>What Krugman fails to mention is that the economy is in a much better position now than back in 2011. And Obama doesn&#39;t need to run for re-election.</p>
<p>Q3 growth was 3.1 percent? The housing market is bottoming out? Japan is firing up the digital printing presses? The Fed will allow more inflation in its focus on unemployment?</p>Fred C. Dobbs commented on 'Paul Krugman: Playing Taxes Hold ’Em'tag:typepad.com,2003:6a00d83451b33869e2017ee67deaa6970d2012-12-21T16:11:21Z2012-12-21T16:11:21ZFred C. DobbsWhat Now on Debt? ‘God Only Knows,’ Says Boehner http://nyti.ms/YtUs1J NYT - WASHINGTON — House Speaker John A. Boehner, in...<p>What Now on Debt? ‘God Only Knows,’ <br />
Says Boehner <a href="http://nyti.ms/YtUs1J" rel="nofollow">http://nyti.ms/YtUs1J</a></p>
<p>NYT - WASHINGTON — House Speaker John A. Boehner, in the wake of the embarrassing defeat of his backup plan to avert a fiscal crisis in two short weeks, on Friday called on the Senate and President Obama to find a way out, but added that “God only knows” how Washington is going to get control of its finances. ...</p>Darryl FKA Ron commented on 'Paul Krugman: Playing Taxes Hold ’Em'tag:typepad.com,2003:6a00d83451b33869e2017d3f09370d970c2012-12-21T15:45:24Z2012-12-21T15:45:24ZDarryl FKA Ron:<) :<) :<) Thank you, that was a lot funnier than the BS on the gun thread. Merry Christmas!<p>:&lt;) :&lt;) :&lt;)</p>
<p>Thank you, that was a lot funnier than the BS on the gun thread.</p>
<p>Merry Christmas!</p>The Raven commented on 'Paul Krugman: Playing Taxes Hold ’Em'tag:typepad.com,2003:6a00d83451b33869e2017d3f091be0970c2012-12-21T15:29:59Z2012-12-21T15:29:59ZThe Ravenhttp://adviceunasked.blogspot.com/Did the Republicans just go the way of the Whigs?<p>Did the Republicans just go the way of the Whigs?</p>save_the_rustbelt commented on 'Paul Krugman: Playing Taxes Hold ’Em'tag:typepad.com,2003:6a00d83451b33869e2017ee67d9bd8970d2012-12-21T15:16:22Z2012-12-21T15:16:22Zsave_the_rustbeltObama should praise the Lord every morning for the Tea Party.<p>Obama should praise the Lord every morning for the Tea Party.</p>Tracy commented on 'Paul Krugman: Playing Taxes Hold ’Em'tag:typepad.com,2003:6a00d83451b33869e2017d3f08e219970c2012-12-21T14:42:18Z2012-12-21T14:42:18ZTracyHe should do what you say, but I doubt he will. The White House simply does not know how to...<p>He should do what you say, but I doubt he will. The White House simply does not know how to play this game.</p>cawley commented on 'Paul Krugman: Playing Taxes Hold ’Em'tag:typepad.com,2003:6a00d83451b33869e2017d3f08a19f970c2012-12-21T13:51:53Z2012-12-21T13:51:53Zcawley"The first episode ran in 2011 ..." No, the first episode ran in early 2009 when he negotiated with himself...<p>&quot;The first episode ran in 2011 ...&quot;</p>
<p>No, the first episode ran in early 2009 when he negotiated with himself on the stimulus despite landslide victory on all levels in 2008 and a clear real-life demonstration of result of republican policies.</p>
<p>Of course, all of this supposes that he is playing for &quot;our side&quot; in the first place ...</p>endorendil commented on 'Paul Krugman: Playing Taxes Hold ’Em'tag:typepad.com,2003:6a00d83451b33869e2017d3f08520c970c2012-12-21T12:51:56Z2012-12-21T12:51:56ZendorendilNice one. People often don't appreciate that 'crazy' can be very lucrative. My standard example is Ann Coulter. Laughing all...<p>Nice one. People often don&#39;t appreciate that &#39;crazy&#39; can be very lucrative. My standard example is Ann Coulter. Laughing all the way to the bank, I believe is the expression.</p>ilsm commented on 'Paul Krugman: Playing Taxes Hold ’Em'tag:typepad.com,2003:6a00d83451b33869e2017d3f08257d970c2012-12-21T12:18:05Z2012-12-21T12:18:05ZilsmTake the plants making untested super expensive military jets and have them build regional commuter jets, I am tired of...<p>Take the plants making untested super expensive military jets and have them build regional commuter jets, I am tired of riding Canadian and Brazilian plane because There is so much more money to be made making shoddy super planes.</p>
<p>Same for shipyards not making cruise ships and oil tankers because the pentagon trough is no risk lots of profit!</p>
<p>Big corporations whose bail outs come from the Arlington, Va side of &#39;inside the beltway&#39; taking resources away from Detroit to build super tanks...........</p>
<p>WHat Seymour Melman said!</p>ilsm commented on 'Paul Krugman: Playing Taxes Hold ’Em'tag:typepad.com,2003:6a00d83451b33869e2017c34d9215d970b2012-12-21T12:04:24Z2012-12-21T12:04:24ZilsmThe elephants in the room are feeding at the pentagon's trough, which is >>3/5 too large. If 60% of war...<p>The elephants in the room are feeding at the pentagon&#39;s trough, which is &gt;&gt;3/5 too large.</p>
<p>If 60% of war trough were used to cut the deficit, and pay for some for roads, etc, the US would be on the way to recovering a semblence of humanity.</p>ilsm commented on 'Paul Krugman: Playing Taxes Hold ’Em'tag:typepad.com,2003:6a00d83451b33869e2017ee67c93fb970d2012-12-21T12:00:28Z2012-12-21T12:00:28ZilsmThe secure moochers feed at the pentagon trough. Tehadists are taking care of the war industry, which if cut to...<p>The secure moochers feed at the pentagon trough.</p>
<p>Tehadists are taking care of the war industry, which if cut to size of Germany&#39;s current wehrmacht, there would be no problems with taking care of the 87% which see SS and medicare as important to their livelihood.</p>
<p>There are around 5 million of those tehadist favorites, who live off 5% of GDP!!</p>beezer commented on 'Paul Krugman: Playing Taxes Hold ’Em'tag:typepad.com,2003:6a00d83451b33869e2017d3f080181970c2012-12-21T11:58:09Z2012-12-21T11:58:09Zbeezerhttp://www.beezernotes.com/wordpress/Obama needs a Hopkins, Ickes combo. One guy puts a lot of people to work on various smaller projects, the...<p>Obama needs a Hopkins, Ickes combo. One guy puts a lot of people to work on various smaller projects, the other guy works on big projects, like modernizing urban transit systems or installing a national direct current, smart grid. In the first case the money is transferred directly into the states, in the second case it&#39;s federal supervision with regional cooperation. Time to start thinking positively. Raise taxes, leave SS and Medicare alone and then go after jobs. One, two, three. Game over.</p>ilsm commented on 'Paul Krugman: Playing Taxes Hold ’Em'tag:typepad.com,2003:6a00d83451b33869e2017d3f07fe36970c2012-12-21T11:56:18Z2012-12-21T11:56:18ZilsmWar industry welfare does not get rational. Last night the tehadfist 'house' passed $633B in munificence for empire and the...<p>War industry welfare does not get rational.</p>
<p>Last night the tehadfist &#39;house&#39; passed $633B in munificence for empire and the militarist keynesians, which they refuse to raise taxes to pay for, and now they do not have huge SS and medicare cash surpluses to waste there.</p>
<p>So, tehadists want to cut SS and medicare benefits for 87% who bear the burden of empire and the crushing war profiteers&#39; trough, while the .1% pay so little in taxes.</p>
<p>No deal!!</p>beezer commented on 'Paul Krugman: Playing Taxes Hold ’Em'tag:typepad.com,2003:6a00d83451b33869e2017ee67c7da2970d2012-12-21T11:45:35Z2012-12-21T11:45:35Zbeezerhttp://www.beezernotes.com/wordpress/Using the poker analogy, Obama needs to call the GOP bluff by pulling in his chips and leaving the table....<p>Using the poker analogy, Obama needs to call the GOP bluff by pulling in his chips and leaving the table. He should take a nice Christmas and New Year&#39;s break, the poker equivalent of telling the other players he&#39;s out for a bite to eat and will be back later. </p>
<p>And when he returns to the table, he needs to say &#39;all in.&#39; The GOP will collapse because they are selling &#39;air sandwiches.&#39; There is no &#39;there, there,&#39; and the public has become very skeptical of this version of Republicanism. Something smells in that tent. </p>
<p>Raise taxes. Leave SS and Medicare unmolested. Then push for jobs building a better America. Deficit? Debt? The Americans don&#39;t give a hoot about either. Tell them the truth: The way to stop deficits and pay down debt is to put people to work building a better America.</p>
<p>The GOP has a lousy hand. Obama has a flush. Call &#39;em, Mr. President.</p>reason commented on 'Paul Krugman: Playing Taxes Hold ’Em'tag:typepad.com,2003:6a00d83451b33869e2017d3f079028970c2012-12-21T10:37:45Z2012-12-21T10:37:50Zreasonhttp://profile.typepad.com/6p00e3982108db8833Why do you think Paul Ryan is a madman? He does very well for himself, thank you very much, and...<p>Why do you think Paul Ryan is a madman? He does very well for himself, thank you very much, and without working for a living (gets to work out a lot though). Yes his policies are mad. But that is another matter entirely.</p>BillTuckerUS commented on 'Paul Krugman: Playing Taxes Hold ’Em'tag:typepad.com,2003:6a00d83451b33869e2017ee67c1b70970d2012-12-21T10:34:41Z2012-12-21T10:34:41ZBillTuckerUSRepublican extremists are painting themselves into a corner. If they hadn't insisted on a madman as Romney's running mate, they'd...<p>Republican extremists are painting themselves into a corner. If they hadn&#39;t insisted on a madman as Romney&#39;s running mate, they&#39;d have their man in the White House right now.</p>
<p>The extremists are leaving the rest of the Party behind and that&#39;s slowly becoming evident in the Congress. I think Obama just has to hang onto his cards and the pot will soon be his. The power of the extremists will be broken and, I think, sooner rather than later.</p>Antiderivative commented on 'Paul Krugman: Playing Taxes Hold ’Em'tag:typepad.com,2003:6a00d83451b33869e2017c34d83c55970b2012-12-21T09:25:46Z2012-12-21T09:25:46ZAntiderivativeAmazing that we were fighting commies decades ago, claiming that our system was superior, yet it is not. We need...<p>Amazing that we were fighting commies decades ago, claiming that our system was superior, yet it is not. We need to cut off old people since they are draining our system and making it weak. </p>
<p>The American system is so fragile that it cannot even take care of their retired folk, unless they are bankers. </p>Antiderivative commented on 'Paul Krugman: Playing Taxes Hold ’Em'tag:typepad.com,2003:6a00d83451b33869e2017ee67b9758970d2012-12-21T09:02:16Z2012-12-21T09:02:16ZAntiderivativeObama has no game. He is gonna cut SS while giving Wall St. whores bonuses. This is his game.<p>Obama has no game. He is gonna cut SS while giving Wall St. whores bonuses.</p>
<p>This is his game. </p>